Fagiolo; G.; Dosi; G. - Society for Computational Economics - SCE - 2001
locally explore the space around the technology they currently master to find new techniques. If their exploration succeeds, a … new (possibly better) technology is introduced in the system. Although imitation and exploration are time-consuming and … increasing in past firmÌs output. Hence, the activities of exploitation, exploration and imitation take place over a ÎruggedÌ …